WAYS AND MEANS AN INSURANCE AGENT CAN MISLEAD YOU

Insurance is the major component of any financial market. Everybody likes to make quick money. Hence, insurance agents, having greed for incentives, will try to get more customers at any cost.

Ways A Good Insurance Advisor Can Mislead You:

Some of the ways in which a good insurance advisor can mislead you are as follows:

Insurance Policy Do Not Match: You will call the insurance company and person visits your house. You will take up policy, after being mesmerised by the advisor. Later you feel that policies do not match your requirement, and can be very disgusting at times. You will become a victim of Mis-selling.

Hiding Facts: The insurance agent, like to hide negative aspect of the insurance. This will put the customer in a fix and will not get full info on insurance.

I have an Insurance, Hence I’m Safe:

Many people in India think that, since I am having the insurance, I am safe. However, that is not the situation, because various insurance is available for various situations. Hence as a smart customer you must be alert, and choose your insurance smartly.

Sweet Thieves: Insurance companies, where the agents are working will have a bad reputation. At this juncture, company forces the agents to sell products/services using various tricks in the books.

Misleading Advertisements: You should be on guard against bad advertisements/pamphlets and banner ads. Bad advertisements can destroy reputation of the company, your work.

Bogus Company: Company, where the insurance agent belongs will not be present in India. They will try to attract the customer with extra- customer service. Fraud deals can happen at any situations.

Fake Agents: Most of the agents are very corrupt and will pull up customer’s database and sell the insurance policies. The agents will not have proper license to even take up the position of Insurance advisor.

Super Commissions: To get extra commission, insurance agent takes multiple applications from a single person. You will have serious problem looking and analysing statements of the policies and will get confused.